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#1 Selling Amibroker Plugin featuring:
Twiggs money flow weekly for Amibroker (AFL)
I added the weekly time frame to the code byStock_Alchemist Rayloom [at] yahoo.com
This weekly time frame can be drop&drag onto the Twiggs Money Flow in the daily time frame
Twiggs Money Flow is a derivation of Chaikin Money Flow indicator, which is in turn derived from the Accumulation Distribution line. However, Twiggs Money Flow makes two basic improvements to the Chaikin Money Flow formula:
1-To solve the problem with gaps, Twiggs Money Flow uses true range, rather than daily Highs minus Lows.
2-And, rather than a simple-moving-average-type formula, Twiggs Money Flow applies exponential smoothing, using the method employed by Welles Wilder for many of his indicators.
Similar Indicators / Formulas
Indicator / Formula
/* I added the weekly time frame to the code byStock_Alchemist Rayloom [at] yahoo.com This weekly time frame can be drop&drag onto the Twiggs Money Flow in the daily time frame. The values appear to be right but I have not been able to get rid of the step look. Twiggs Money Flow is a derivation of Chaikin Money Flow indicator, which is in turn derived from the Accumulation Distribution line. However, Twiggs Money Flow makes two basic improvements to the Chaikin Money Flow formula: 1-To solve the problem with gaps, Twiggs Money Flow uses true range, rather than daily Highs minus Lows. 2-And, rather than a simple-moving-average-type formula, Twiggs Money Flow applies exponential smoothing, using the method employed by Welles Wilder for many of his indicators. */ TimeFrameSet( inWeekly ); periods = Param( "Periods", 20, 5, 200, 1 ); TRH=Max(Ref(C,-1),H); TRL=Min(Ref(C,-1),L); TR=TRH-TRL; ADV=V*((C-TRL)-(TRH-C))/ IIf(TR==0,9999999,TR); WV=V+(Ref(V,-1)*0); SmV= Wilders(WV,periods); SmA= Wilders(ADV,periods); TMF= IIf(SmV==0,0,SmA/SmV); TimeFrameRestore(); Plot(TimeFrameExpand( tmf, inWeekly,expandLast), "TMF", ParamColor( "TMF color", colorCycle ) ,ParamStyle("Style",styleLine,maskAll),Null,Null,0 ); Plot(0,"Centre Line",ParamColor( "Centre Line Color", colorCycle ),1 );
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